Anixa Biosciences (NASDAQ:ANIX) Stock Rating Lowered by Zacks Research

Anixa Biosciences (NASDAQ:ANIX) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the company. D. Boral Capital restated a “buy” rating and set a $10.00 price target on shares of Anixa Biosciences in a report on Tuesday, October 7th. HC Wainwright reissued a “buy” rating and set a $7.00 price objective on shares of Anixa Biosciences in a research report on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Anixa Biosciences in a report on Monday. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.00.

Anixa Biosciences Stock Up 6.1%

Anixa Biosciences stock opened at $4.35 on Tuesday. Anixa Biosciences has a 52-week low of $2.07 and a 52-week high of $4.98. The firm has a market cap of $143.19 million, a PE ratio of -12.43 and a beta of 0.66. The company’s 50 day moving average is $3.92 and its two-hundred day moving average is $3.35.

Anixa Biosciences (NASDAQ:ANIX) last posted its quarterly earnings data on Wednesday, September 10th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. On average, equities research analysts anticipate that Anixa Biosciences will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Anixa Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC purchased a new stake in Anixa Biosciences during the second quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. raised its holdings in Anixa Biosciences by 2,000.0% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 10,500 shares of the company’s stock worth $35,000 after purchasing an additional 10,000 shares in the last quarter. Benjamin Edwards Inc. purchased a new stake in shares of Anixa Biosciences during the 2nd quarter worth approximately $37,000. Marshall Wace LLP purchased a new stake in shares of Anixa Biosciences during the 2nd quarter worth approximately $39,000. Finally, Private Advisor Group LLC acquired a new position in shares of Anixa Biosciences in the 1st quarter valued at $35,000. Institutional investors and hedge funds own 29.13% of the company’s stock.

About Anixa Biosciences

Anixa Biosciences, Inc, a biotechnology company, develops therapies and vaccines focusing on critical unmet needs in oncology and infectious diseases. The company's therapeutics programs include the development of a chimeric endocrine receptor T-cell therapy, a novel form of chimeric antigen receptor T-cell (CAR-T) technology focusing on the treatment of ovarian cancer.